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Except with respect to firm fixed-price contracts, no contract shall be used unless it has been determined in writing by the chief procurement officer, the head of a purchasing agency, or a designee of either officer that:
(1) The proposed contractor's accounting system will permit timely development of all necessary cost data in the form required by the specific contract type contemplated; and
(2) The proposed contractor's accounting system is adequate to allocate costs in accordance with generally accepted accounting principles.
Cite this article: FindLaw.com - Hawaii Revised Statutes Division 1. Government § 103D-314 - last updated January 01, 2019 | https://codes.findlaw.com/hi/division-1-government/hi-rev-st-sect-103d-314/
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